Follow Me On Pinterest
Sacramento, CA
As a Short Sale Realtor ® I receive many calls from homeowners having trouble paying their house payments.
Also, homeowners who foresee difficulty paying their mortgage in the next few years, call.
I thought I would devote this article specifically to homeowners who can’t pay their house payment.
You have a few options available:
The woman I spoke with today, called about loan modifications and was told that it would cost her $4,000. Not everyone has $4,000 to toss around especially if they are all ready in trouble.
Makes me wonder how legitimate these companies are if they demand so much money up front. Are they afraid after all their work, they won’t get a loan modification for you? Seems they don’t exactly have a lot of faith in what they are doing…wouldn’t you say?
Can you imagine if I charged my real estate fees up front? hmmm…what a concept.
There are many scams artists out there and I don’t know them all…they come out of the woodwork whenever they see a niche so as to take advantage. They prey on those less fortunate. Try to avoid them at all costs!
There’s a simple way, go to a FREE government site specifically for loan modification.
You can trust this website. Take the test and see if you qualify for a loan modification at the government site. It’s FREE.
At Making Home Affordable you will see if you QUALIFY for a loan modification. It’s an easy site to use and should be the first place you go for help.
Call your mortgage lender, service provider, the place you pay your mortgage and ask them for a loan modification. Be persistant, don’t give up. This is a long and tedious process so be strong and keep calling even if they say no, call again.
By clicking on CA State Department of Real Estate you will find a list of individual and corporate real estate brokers who have submitted an advance fee agreement to provide loan modification services. (The CA Dept. of Real Estate does not endorse these people, however). If you decide to go this route, be sure to read what the CA Dept. of Real Estate Consumer Alert has to say.
If a Notice of Default has been recorded, the ONLY person that can legally help you is an attorney. Do NOT pay anyone else.
Do You Qualify for a Loan Modification?
Don’t let the scammers tell you that they can do one if you find out from the government site that you don’t qualify. That’s what they are hoping you will be dumb enough to do. Check to see if you even qualify, first.
Making Home Affordable is a SAFE government FREE site for Loan Modifications.
The lady that called today has not missed any house payments. What many of us have experienced are banks telling homeowners they can’t do anything to help them if they haven’t missed a house payment. Then once the homeowner misses a few payments, the bank says they don’t qualify since their credit score went done due to missing the payments.
Many homeowners are loosing their jobs, income reduced due to cut backs and still those of course that got caught up in the Lending arena.
This article has gotten much too long so I will devote this article to Loan Modifications and write later to those who may be interested in knowing about Short Sales, Deed in Lieu and Foreclosure.
Stay tuned…
If you like what you read here on Sacramento Real Estate Voice simply click and subscribe 
to get the latest articles sent to your email.
.
and read what other home buyers and home sellers have asked and feel free to ask your Real Estate question by email. Perhaps, your question will be part of the next article featured on Sacramento REAL Estate
Other Loan Modification Articles:
Want to Know How To Get A Loan Modification?
